Ola Money Wallet closure issue

[Batman]

1. I received the email below. Based on this email, I wanted to close my Ola Money account (it is inactive at the moment).

2. The first comment is Ola's email response. Please suggest how to proceed with closure.
Will I be required to reopen the account? Or can I force closure via RBI Ombudsman, or escalation via Ola Twitter?

3. Side note - I never needed Ola Money account, I work in tech and opened it just to try the new business model. Ola never specified it was a Personal Loan account. I close it as soon as I found that out.

4. My CIBIL report state this as "Personal Loan - Inactive".

On to the first email I received:

IMPORTANT UPDATE REGARDING YOUR OLAMONEY WALLET

Dear Customer,

We hope this message finds you well. We're writing to inform you about an important update in our policy regarding your Full KYC OlaMoney wallet.

We are transitioning completely to Small PPI with a maximum wallet load limit to ₹10,000/- per month, effective from 1st April, 2024. In order to continue with our wallet services, from 1st April onwards, you will get an option to provide your consent either to:

Convert your Ola Money wallet from Full KYC to Small PPI, or
Close of your Wallet: Withdraw the complete amount if any and close the wallet. Bank transfer charge is NIL
Please note, until you take this action, your wallet remains suspended effective 1st April, 2024.

For OFS, you have been the valuable customer, to make this transition smooth, we would like to advise you that:

Utilize all the available balance in your wallet by 31st March 2024. You can utilize this Ola cabs ride and on other 10K+ merchants

Withdraw the complete amount from your wallet on or before 31st March, 2024. Bank transfer charge is NIL

For closure of wallet or withdrawal of amount from wallet before 1st April, 2024, you may write an email to our customer service team on support@olamoney.com. Our team will assist you on the same.

We apologize for any inconvenience this may cause and appreciate your understanding and cooperation. Should you have any questions or need further assistance, please do not hesitate to contact our customer support team on support@olamoney.com

Thank you for being a loyal OlaMoney customer.

Warm regards,
Team OlaMoney

 

[Batman]

Ola support response:

Please be informed that your OlaMoney account is inactive since there was no activity for 12 consecutive months. You can get it activated by following the below-mentioned steps:

- Login to your OlaMoney application
- Tap on Activate Wallet Now
- Enter OTP to authenticate
- Select ID proof and enter the details
- Tap on Activate OlaMoney wallet

Once all the steps are successfully completed, your OlaMoney wallet would be reactivated immediately.

We would like to inform you that since your OlaMoney Wallet is in an inactive state, we do not have the option to proceed with the wallet closure request. However, we request you to write to us post activating the wallet so that we can assist you further accordingly

I don't want to login again. How do I get it closed without reopening Ola Money account?

 

[dino]

After 1st April 24, ola account will show as personal loan account in my cibil ???

 

[Batman]

After 1st April 24, ola account will show as personal loan account in my cibil ???

IIRC it still shows up the same.

 

[dino]

IIRC it still shows up the same.

I have a mini kyc wallet i never opted gor ola postpaid.
And nothing shows as such in my cibil.

 

[Batman]

I have a mini kyc wallet i never opted gor ola postpaid.
And nothing shows as such in my cibil.

Thank you for clarifying that. I'm afraid I don't know what happens in this case.

What I can share from my experience is that I got my Postpaid account closed 2 days ago. I don't trust Ola with the power to modify my CIBIL report.

 

[dino]

Can we still load money and do fastag recharge as Today is 1st april??